Compton Petroleum Corporation News Release



    CALGARY, Jan. 29 /CNW/ - Compton Petroleum Corporation (TSX - CMT, NYSE -
CMZ) has received a letter dated January 29, 2008 from Centennial Energy
Partners, L.L.C. which formed the basis for a regulatory filing by Centennial
today in the United States.
    The Board of Directors of Compton is considering the letter and filing
and will respond as appropriate.
    At this time, and until the Board completes its review, the Company's
position is as stated in its 2008 Business Plan issued on January 23, 2008.

    Forward-Looking Statements
    --------------------------

    Certain information regarding the Company contained herein constitutes
forward-looking information and statements and financial outlooks
(collectively, "forward looking statements") under the meaning of applicable
securities laws, including Canadian Securities Administrators' National
Instrument 51-102 Continuous Disclosure Obligations and the United States
Private Securities Litigation Reform Act of 1995. Forward-looking statements
include estimates, plans, expectations, opinions, forecasts, projections,
guidance, or other statements that are not statements of fact, including
statements regarding (i) cash flow and capital and operating expenditures,
(ii) exploration, drilling, completion, and production matters, (iii) results
of operations, (iv) financial position, and (iv) other risks and uncertainties
described from time to time in the reports and filings made by Compton with
securities regulatory authorities. Although Compton believes that the
assumptions underlying, and expectations reflected in, such forward-looking
statements are reasonable, it can give no assurance that such assumptions and
expectations will prove to have been correct. There are many factors that
could cause forward-looking statements not to be correct, including risks and
uncertainties inherent in the Company's business. These risks include, but are
not limited to: crude oil and natural gas price volatility, exchange rate
fluctuations, availability of services and supplies, operating hazards, access
difficulties and mechanical failures, weather related issues, uncertainties in
the estimates of reserves and in projection of future rates of production and
timing of development expenditures, general economic conditions, and the
actions or inactions of third-party operators. The forward-looking statements
contained herein are made as of the date of this news release solely for the
purpose of generally disclosing Compton's updated strategic plans, capital
program and budget targets for 2008. Compton may, as considered necessary in
the circumstances, update or revise the forward-looking statements, whether as
a result of new information, future events, or otherwise. Compton cautions
readers that the forward-looking statements may not be appropriate for
purposes other than their intended purposes. The Company's forward-looking
statements are expressly qualified in their entirety by this cautionary
statement.

    Compton Petroleum Corporation is a Calgary-based public company actively
engaged in the exploration, development, and production of natural gas,
natural gas liquids, and crude oil in the Western Canada Sedimentary Basin.
Compton's shares are listed on the Toronto Stock Exchange under the symbol CMT
and on the New York Stock Exchange under the symbol CMZ.

    %SEDAR: 00003803E          %CIK: 0001043572




For further information:

For further information: Corporate contacts: Compton Petroleum
Corporation, E.G. Sapieha, President & CEO, N.G. Knecht, VP Finance & CFO, or
Lorna Klose, Manager, Investor Relations, Telephone: (403) 237-9400, Fax (403)
237-9410, Website: www.comptonpetroleum.com, Email:
investorinfo@comptonpetroleum.com

Organization Profile

MFC Energy Corporation

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890